Croatia Property Sales - property news

Croatia courts Russian buyers with legal change

Russian investors are now able to buy real estate in Croatia without having to go through a company and, as a result, agents believe demand is set to rise further.

Croatia has updated its legal regulations to make it easier for Russians to buy property there.

Before now, if Russians wanted to buy homes in Croatia they had to do it through a company, but now the law is being simplified to allow individuals to purchase real estate. The rules were changed after Croat property professionals felt they were losing out on Russian investment.

Justice Minister Orsat Miljenic says Russians will now be able to buy property in the same way that Croats can do in Russia. “It was absurd that Russian companies could by companies in Croatia, but Russian citizens were not allowed to buy property.”

Despite the regulatory change, there is still an important difference between buying in Croatia and Russia, says the Minister of Justice said when buying an apartment in Russia, investors only own the property, while in Croatia they can own the property and the land it stands on.